The Bank of Nova Scotia filed a free writing prospectus on November 3, 2026, under Rule 433 and Registration Statement No. 333-298611, disclosing terms for Autocallable Strategic Accelerated Redemption Securities linked to the S&P 500 Index.

Key Highlights

  • Principal amount: $10.00 per unit, with no exchange listing for the notes.
  • Term: Approximately six years, if not called earlier, with observation dates approximately one through six years from the pricing date.
  • Call Level: 100.00% of the Starting Value; notes are called automatically if the Observation Level equals or exceeds this level on any Observation Date.
  • Call Amounts (preliminary ranges): $10.675 to $10.775 if called on the first Observation Date, rising to $14.050 to $14.650 if called on the final Observation Date, with final terms set on the pricing date.
  • Downside risk: If not called, investors face 1-to-1 downside exposure to decreases in the S&P 500 Index, with up to 100.00% of principal at risk.
  • Issuer credit risk: Payments are subject to the credit risk of The Bank of Nova Scotia; investors may lose their entire investment if BNS becomes insolvent or is unable to pay its obligations.
  • Initial estimated value: According to the filing, the initial estimated value of the notes on the pricing date will be less than their public offering price.

Terms and Risk Profile of BNS's S&P 500-Linked Autocallable Notes

The Bank of Nova Scotia disclosed the preliminary terms of its Autocallable Strategic Accelerated Redemption Securities linked to the S&P 500 Index (Bloomberg symbol: "SPX") in a free writing prospectus filed pursuant to Rule 433. The notes carry a principal amount of $10.00 per unit and a term of approximately six years, subject to automatic early redemption on any of six annual Observation Dates.

According to the filing, the notes will be called automatically if the closing level of the S&P 500 Index on an Observation Date equals or exceeds 100.00% of the Starting Value. The applicable Call Amounts range from $10.675 to $10.775 per unit on the first Observation Date up to $14.050 to $14.650 per unit on the final Observation Date, with the exact figures to be determined on the pricing date. The filing notes the investment is designed for investors willing to have their notes called and to accept that returns are capped at the applicable Call Premium, with no interim interest payments.

The filing identifies several material risks. If the notes are not called, investors bear 1-to-1 downside exposure to any decline in the S&P 500 Index, with up to 100.00% of principal at risk. Payments depend on the creditworthiness of BNS, and the filing states that if BNS "becomes insolvent or is unable to pay its obligations, you may lose your entire investment." Additionally, the filing discloses that the initial estimated value will be less than the public offering price and that secondary market sales prior to maturity may yield less than either the offering price or the estimated value. The notes will not be listed on any exchange. Final terms are to be set on the pricing date within the ranges specified.

What Was Disclosed

The Bank of Nova Scotia filed a free writing prospectus outlining preliminary terms for S&P 500-linked autocallable notes with a six-year maximum term, annual call observation dates, preliminary call amount ranges, full principal-at-risk downside exposure, and no exchange listing.